Note: This is a seattlepi.com reader blog. It is not written or edited by the P-I. The authors are solely responsible for content. E-mail us at newmedia@seattlepi.com if you consider a post inappropriate.

Focus on core strategy to create new venture success

New ventures are absolutely captivating. When people are involved they have stars in their eyes and can image all sorts of amazing outcomes. When undertaking such a new venture, it is helpful to have the end goal in mind so that you work toward it. However, building capability and resources to gradually reach the end goal is what needs to be done initially. Enduring strategy is very hard to create and it takes time, investment, and, perhaps most of all, a whole lot of effort.

-Evolving strategy-

To begin, the core of the strategy should be developed and the focus. The core of the strategic will be the central area that the organization is founded on and is likely created from the founder’s big idea to kick it off. This should be the primary priority for the founders and initial stakeholders. I say primary because everything will seem to be of high importance. Building an organization from scratch is a sizeable undertaking and many aspects need to be in place in order for a new venture to be successful. All of the components, from idea creation through implementation and going to market, are needed. The enormity of such an effort can be mindboggling and overwhelming.

Do not despair! The first large phase is to create the core strategy’s foundation. From there, the following steps become clearer and, hopefully, can build upon successes along the way. The reason for focusing on the core strategy is because that area of the organization will derive the short and long term payoff that can make an organization successful. Without the core strategy, all the resources and capabilities will not have direction and alignment to achieve. It may survive through small acts of heroic employees, but it would not be sustainable because of burnout of people and resources. Taking on everything at once should only be reserved for those that already have the auxiliary components of the organization. Even then, it must be a balance of what can be build and the pressure of going to market.

To make it so that you can focus on the core strategy, find ways to get through the overhead and administration of a new venture in an effective manner. That will likely mean partnering with other organizations, hiring auxiliary service providers (HR, Accounting, Marketing, whatever is not central to your organization, etc.), and/or simply outsourcing aspects of the business (infrastructure, call centers, logistics handlers, etc.) to ensure that you can deliver on whatever product or service your venture creates or augments.

-Summary-

This is a short term focus to make it so that the venture is supported and enabled as it evolves. It is important to be patient and make certain the organization is ready to evolve and grow before moving ahead. If an organization grows too quickly, it might cave in from overextending itself. Over time, taking back these non-core elements will become more appealing so that the core strategy can expand and touch more facets of the organization. It’s generally more efficient and effective to have such aspects in-house as well. As milestones are reached and success grows, organizational inertia helps propel organizations forward. Those first few big occasions pave the path forward to fulfilling all those starry eyed dreams.

Note: This is a seattlepi.com reader blog. It is not written or edited by the P-I. The authors are solely responsible for content. E-mail us at newmedia@seattlepi.com if you consider a post inappropriate.

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